HomeBusiness DigestCommittee to find solutions to Parkview woes

Committee to find solutions to Parkview woes

Staff Writer

THE board of First Mutual Ltd (FML) has appointed a special committee to work with financiers in a bid to find solutions to the troubled Parkview hospital.

erdana, Arial, Helvetica, sans-serif”>Built at an estimated cost of $90 million in 1997, the hospital is at the centre of a protracted legal wrangle pitting project promoters, Universal Health Care Holdings (UHCH) and its financiers led by FML.

Other investors in the project are Zimbabwe Development Bank (ZDB), Murray and Roberts, Zimbabwe Electricity Supply Authority Pension Fund, the Commercial Union and Astra Corporation.

UHCH controls about 60% of the project while institutional investors own the balance.

The hospital has been at the centre of a tug-of-war between institutional investors in the project and UHCH led by South African-trained doctor, Vivek Solanki over its control and running.

Investors accuse Solanki of defaulting on pledges made at the start of the project. Solanki in response accused the investors of throwing spanners into the works in a bid to facilitate its take-over.Investors had made several bids to buy out Solanki and UHCH from the project

The hospital, with state-of-the-art facilities, had on numerous occasions been slated for disposal but the sale had been put on hold after it failed to find takers.

FML spokesperson Ruth Ncube confirmed the setting up of a committee to resolve the crisis.

“A special committee has been appointed to work with other financiers in a to bid to see this project to finality,” she said.

Ncube could however not be drawn into commenting who made up the task force saying; “once we have obtained further details you will be advised accord-ingly.”

She Dr Doubt Dube who is the chief executive officer of Ekusileni Hospital in Bulawayo represents FML in the probe team.

The FML task force is headed by Dube and has five other representatives.

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